Infinity Economics is rolling out smart contracts feature

Infinity Economics is to release smart contracts feature on its platform on May 5 that will symbolize the end of the Core update cycle
03 April 2018   706

Earlier in March Infinity Foundation has released a Feature Roadmap along with the Core update. The roadmap is significant as it tracks the height of its blockchain and upon reaching a certain height a new feature (crowdsourcing, escrow service) is automatically activated for the community. The final step of the roadmap is set to Smart Contracts feature. The height is set at 695,640th block.

According to the project's whitepaper, smart contracts are deemed one of the most promising applications of the blockchain technology. As a bright example, Atomic Cross Chain transactions enable truly decentralized trading between cryptocurrencies. Potentially, it allows a trader to exchange a token for a coin with a mixing service for the sake of privacy and send the coin to a new wallet.

Another application that IEP is eyeing is smart auction. Participants could send money to the contract, and every time a larger bid arrives, the previous gets automatically refunded. Among other applications are autonomous corporations,  gambling, self-mixing and smart properties.

As of the moment of publication, Infinity Economics market parameters are as follows

Average price: $0.013351

Volume (24H): $187,074

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   223

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.